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Exploration of Opportunities for Development of CEE Domestic Luxury Brands: Case of the Czech Republic

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  • Květa Olšanová
  • Gina Cook
  • Petr Král
  • Ondřej Vilikus
  • Marija Zlatić

Abstract

Country of origin (COO) plays a vital role in the luxury market. This paper investigates the extent to which luxury shoppers are aware of domestic luxury brands, and in which categories they would consider buying them. Our results, based on a survey of 253 luxury buyers in the Czech Republic, indicate that there is an opportunity for local brand development in categories such as luxury glass and crystal home accessories, designer furniture and lights, which are outside the scope of the "traditional luxury industry". Additional findings are also highlighted: for more than two-thirds of actual luxury shoppers; the local COO would be a reason to consider purchasing a luxury brand. Perceptual differences of domestic vs global luxury brands are also indicated.Implications for a Central European audience: Managerial implications target at managers of domestic or emerging luxury brands in non-traditional luxury markets with a specific demographic segment of potential mature luxury customers. They have a higher affinity for domestic luxury products.

Suggested Citation

  • Květa Olšanová & Gina Cook & Petr Král & Ondřej Vilikus & Marija Zlatić, 2020. "Exploration of Opportunities for Development of CEE Domestic Luxury Brands: Case of the Czech Republic," Central European Business Review, Prague University of Economics and Business, vol. 2020(4), pages 59-72.
    • Handle: RePEc:prg:jnlcbr:v:2020:y:2020:i:4:id:246:p:59-72
    DOI: 10.18267/j.cebr.246
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    References listed on IDEAS

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    More about this item

    Keywords

    luxury; country of origin; branding; domestic luxury;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other

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